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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

Baseline A baseline is an estimate of the project’s scope, schedule and costs that is created during the planning stage. Cost overrun This is the actual cost that exceeds the estimated cost in the budget, also known as a cost increase or budget overrun. Learn more about how to use milestones in project scheduling.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Accept: A response to a project risk where the project manager accepts the risk and takes no action to evade it, i.e. 'accepting' the risk. This is usually in case of risks that are unlikely to occur or minor enough so as to not affect the project's outcome. Actual dates are different from planned or estimated dates.

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Project Management Methodologies Review (Part 1)

Wrike

You’ll start by looking at all the tasks absolutely necessary to complete your project, and then estimating completion times for each step, including task dependencies, milestones, and final deliverables. Event Chain Methodology (ECM). Most projects don’t go exactly according to plan. Extreme Programming (XP).